Insider Buying: Sangamo Therapeutics, Inc. (NASDAQ:SGMO) Director Acquires 6,784 Shares of Stock

Posted by on Jun 6th, 2022

Sangamo Therapeutics, Inc. (NASDAQ:SGMO – Get Rating) Director John Markels bought 6,784 shares of Sangamo Therapeutics stock in a transaction dated Friday, June 3rd. The stock was acquired at an average price of $3.69 per share, with a total value of $25,032.96. Following the purchase, the director now directly owns 32,484 shares of the company’s stock, valued at $119,865.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shares of SGMO stock traded down $0.02 on Monday, reaching $3.70. The company’s stock had a trading volume of 1,416,652 shares, compared to its average volume of 1,431,514. The company has a market capitalization of $542.74 million, a P/E ratio of -3.03 and a beta of 1.63. Sangamo Therapeutics, Inc. has a 12-month low of $3.38 and a 12-month high of $12.83. The stock’s 50 day simple moving average is $4.61 and its 200-day simple moving average is $5.98.

Sangamo Therapeutics (NASDAQ:SGMO – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.02. The firm had revenue of $28.20 million for the quarter, compared to analysts’ expectations of $27.29 million. Sangamo Therapeutics had a negative return on equity of 45.17% and a negative net margin of 156.53%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.32) EPS. On average, analysts predict that Sangamo Therapeutics, Inc. will post -1.41 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Martingale Asset Management L P lifted its position in Sangamo Therapeutics by 6.7% during the third quarter. Martingale Asset Management L P now owns 19,153 shares of the biopharmaceutical company’s stock valued at $173,000 after purchasing an additional 1,200 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of Sangamo Therapeutics by 0.9% during the 3rd quarter. California State Teachers Retirement System now owns 163,526 shares of the biopharmaceutical company’s stock worth $1,473,000 after acquiring an additional 1,470 shares during the last quarter. Advisor Group Holdings Inc. grew its position in Sangamo Therapeutics by 8.2% in the third quarter. Advisor Group Holdings Inc. now owns 21,976 shares of the biopharmaceutical company’s stock worth $199,000 after acquiring an additional 1,664 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in Sangamo Therapeutics by 1.7% in the third quarter. UBS Asset Management Americas Inc. now owns 99,347 shares of the biopharmaceutical company’s stock worth $895,000 after acquiring an additional 1,683 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Sangamo Therapeutics by 6.9% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 30,861 shares of the biopharmaceutical company’s stock valued at $241,000 after acquiring an additional 1,980 shares during the last quarter. 52.40% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on SGMO shares. Wedbush reissued a “neutral” rating on shares of Sangamo Therapeutics in a report on Friday, May 6th. Zacks Investment Research cut Sangamo Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 7th. Truist Financial reduced their target price on Sangamo Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, April 5th. Finally, StockNews.com raised shares of Sangamo Therapeutics from a “sell” rating to a “hold” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.50.

Sangamo Therapeutics Company Profile (Get Rating)

Sangamo Therapeutics, Inc, a clinical-stage biotechnology company, focuses on translating science into genomic medicines that transform patients' lives using platform technologies in gene therapy, cell therapy, genome editing, and genome regulation. The company offers zinc finger protein (ZFP), a technology platform for making zinc finger nucleases, which are proteins used in modifying DNA sequences by adding or knocking out specific genes; and ZFP transcription factors proteins used in increasing or decreasing gene expression.

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